Level One acquires Oxford Bank, creates bigger local bank

Level One Bank is becoming one of the largest banks in Oakland County now that it has acquired Oxford Bank, putting it just behind the likes of Flagstar Bank, Talmer Bank & Trust and Sterling Bank & Trust.

Level One Bank now has combined assets of approximately $750 million and 15 bank branches. It opened a new branch in Bloomfield Township earlier this year and has hired 30 people before the acquisition. The newer, bigger Level One Bank now employs 195 people. The Farmington Hills-based bank now has branches in both southern and northern Oakland County after the acquisition.

"Oakland County is the eighth wealthiest county with more than 1 million people," says Dave Walker, executive vice president & CFO of Level One Bank. "Most of the rest of those counties are on the coasts."

Level One Bank is also moving into a new office in Farmington Hills overlooking I-696. The new space clocks in at 65,000 square feet of space, which nearly triple the size of it current offices. Walker expects to occupy about half of that space right away and use the rest of it to accommodate growth in the next few years.

Source: Dave Walker, executive vice president & CFO of Level One Bank
Writer: Jon Zemke

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